Elgato Systems sells gaming division to Corsair

Munich, Germany — Elgato Systems is selling its gaming divi­sion to Corsair and will now focus solely on its smart home products, which will be marke­ted under the Eve brand. Elgato Systems is rena­med Eve Systems. For the realignment, the provi­der of app-control­­led life­style access­ories is also parting with another company divi­sion. The strea­ming access­ories divi­sion Elgato Gaming will be sold to the US gaming access­ories specia­list Corsair and will be contin­ued there as an inde­pen­dent brand.

“Within an extre­mely dyna­mic segment, Elgato Gaming has achie­ved a momen­tum that only a larger part­ner can amplify,” said Markus Fest, Elgato foun­der and, as of now, CEO of Eve Systems. “The success of our gaming products has excee­ded all expec­ta­ti­ons, and it is now inex­tri­ca­bly linked to the Elgato brand. While saying good­bye to the brand after 20 years is anything but easy for us, Corsair is a fanta­stic company and a worthy new home for Elgato. At the same time, the Eve product line will also bene­fit from a focu­sed team within a dedi­ca­ted organization.”

Eve Systems is repre­sen­ted in the connec­ted home market with a diver­si­fied product port­fo­lio. The product family deve­lo­ped by Elgato in recent years is based on Apple’s Home­kit tech­no­logy. The compon­ents of the Eve family control and auto­mate home appli­ances, regu­late tempe­ra­ture and irri­ga­tion or moni­tor indoor and outdoor air. Each Eve product adds indi­vi­dual features to the smart home that can be acces­sed with iPhone, iPad, Home­Pod and Apple Watch. Eve devices talk to the iPhone via Apple’s secure end-to-end encryp­tion, perso­nal data is thus only visi­ble to the user. The products work wire­lessly thanks to Blue­tooth tech­no­logy, are quick to set up and do not require bridges. Eve devices can be acces­sed via the Apple Home app, the Eve app, the iPhone control center or Siri.

Advi­sor to Elgato Systems GmbH: Bird & Bird LLP
Bird & Bird LLP has advi­sed Munich-based Elgato Systems GmbH on the sale of Elgato’s gaming divi­sion to CORSAIR, the US gaming access­ories specialist.

Elgato was advi­sed by the follo­wing Bird & Bird attor­neys: Part­ner Stefan Münch and Asso­ciate Michael Gass­ner, both Corporate/M&A, Part­ner Dr. Henri­ette Picot, Tech & Comms/Commercial and Part­ner Dr. Ralph Panzer, Labor Law, all Munich.